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The IRS has set many tax deductions and benefits secured for tax payers. Unfortunately, some taxpayers who earn a higher level of income can see these benefits phased out as their income ascends.

3 A 3. All individuals fork out tax @ 15.00 % of salary over first Rs. 4,00,000/-. No slabs, no deductions, no exemptions, no incentives and no allowances.No distinction in the nature and income.

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